Celestica (NYSE:CLS) Stock Jumps 8.3% – Still a Buy?

Celestica, Inc. (NYSE:CLS) (TSE:CLS)’s share price was up 8.3% during trading on Wednesday. The stock traded as high as $247.12 and last traded at $242.3670. 4,443,895 shares changed hands during mid-day trading, an increase of 76% from the average daily volume of 2,527,022 shares. The stock had previously closed at $223.89.

Wall Street Analyst Weigh In

CLS has been the subject of a number of research reports. Barclays raised their price objective on Celestica from $406.00 to $414.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Stifel Nicolaus set a $500.00 target price on Celestica in a research note on Tuesday, July 28th. FBN Securities initiated coverage on Celestica in a research report on Tuesday, September 15th. They issued an “outperform” rating and a $375.00 target price for the company. Wolfe Research increased their price objective on shares of Celestica from $425.00 to $475.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, BWS Financial restated a “buy” rating on shares of Celestica in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $445.14.

Celestica Stock Performance

The stock has a market capitalization of $30.25 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 1.70 and a beta of 2.10. The company has a quick ratio of 1.03, a current ratio of 1.61 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $312.83 and its 200 day simple moving average is $327.85.

Celestica (NYSE:CLS) (TSE:CLS) last posted its quarterly earnings data on Monday, October 26th. The technology company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.02 by $0.28. Celestica had a net margin of 6.83% and a return on equity of 33.80%. The company had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.39 billion. Analysts expect that Celestica, Inc. will post 10.97 earnings per share for the current fiscal year.

Insider Transactions at Celestica

In other Celestica news, CEO Robert Mionis sold 23,396 shares of the stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $364.22, for a total transaction of $8,521,291.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Todd Cooper sold 20,118 shares of the firm’s stock in a transaction dated Wednesday, September 23rd. The shares were sold at an average price of $360.00, for a total transaction of $7,242,480.00. Following the completion of the sale, the president owned 73,252 shares of the company’s stock, valued at $26,370,720. The trade was a 21.55% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Celestica

Several hedge funds have recently modified their holdings of the stock. Legacy Wealth Managment LLC ID grew its holdings in Celestica by 14.4% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 223 shares of the technology company’s stock valued at $63,000 after buying an additional 28 shares in the last quarter. Riverbend Wealth Management LLC lifted its holdings in shares of Celestica by 4.8% in the third quarter. Riverbend Wealth Management LLC now owns 745 shares of the technology company’s stock worth $269,000 after buying an additional 34 shares in the last quarter. XML Financial LLC lifted its holdings in shares of Celestica by 1.5% in the second quarter. XML Financial LLC now owns 2,640 shares of the technology company’s stock worth $963,000 after buying an additional 40 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of Celestica by 0.9% in the second quarter. Sequoia Financial Advisors LLC now owns 4,363 shares of the technology company’s stock worth $1,592,000 after buying an additional 40 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Celestica by 8.2% in the first quarter. EverSource Wealth Advisors LLC now owns 569 shares of the technology company’s stock valued at $160,000 after acquiring an additional 43 shares during the period. 67.38% of the stock is owned by institutional investors.

About Celestica

Celestica Inc. is a global provider of design, manufacturing, and supply chain services for companies across technology and industrial markets. Its work spans product development, engineering, manufacturing, testing, and ongoing product support. The company’s offerings include hardware and infrastructure used in cloud computing and data centers, communications networks, aerospace and defense, industrial equipment, and health technology. It also provides supply chain management and other services to support products throughout their lifecycle.